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Tom Borelli, senior fellow with Freedomworks, on how energy policy will change in President Obama’s second term.
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-- -- shake -- secretary of the interior Ken Salazar says he is leaving in March.
And now there are rumblings Stephen issue of the -- his post as energy secretary don't forget the recent resignation.
Of EP -- Lisa Jackson so what impact will the cabinet.
Mix up half on president Obama's energy policy during a second term.
Joining me now is Tom -- senior fellow at freedom works Tom let's -- into it I mean Steven -- -- you know what they did glucose economy he wanted everything to run on plants.
You know he was the -- -- theoretical physicist I believe from Nobel Prize -- that.
You know definitely not a big fan of traditional fossil fuel so we can leaving -- a good sign but it just depends on who replaces it.
Oh no no no -- people brought back President Obama.
So the war on energy -- fossil fuels is absolutely gonna continue I believe the president even said something today turned his speech.
About climate change what that means that means for coal stocks a -- shorting opportunity because the war on coal.
Means coal is really really going to be under a lot of pressure with all the rules and all the regulations this year.
Let's have some of the evidence that we've seen so far -- -- fiscal -- legislation included.
Twelve billion dollars in extensions for wind energy through tax credits which -- kind of surprised about given.
You know how how pared down it seemed like things were getting.
To try to get this through and -- how -- -- -- as well so that shows you how important it is the adminstration.
Absolutely and I believe that was the administration that wanted that peace and not only did was an extension.
Of the wind production energy tax for wind turbines but there's also a lot of from for bio biofuels scare and also I think electric motorcycle so.
It did double -- down on green that's not gonna change has nothing to do about the environment it has everything to do about making money.
For Obama's cronies in the green energy space.
Well and yes certainly -- -- shareholding to get a piece -- named best in those that you could trying to profit along with that one thing that I heard a lot before the election.
From -- energy industries that they really believed.
That after the election it would clear the way politically for President Obama to be a proponent of the XL pipeline I'd -- I sort of doubt -- -- at the time because I felt like.
He fundamentally was against the idea what evidence have you seen now to support one side -- the other.
But think of it this way he got a re elected without approving the pipeline that could have brought us more to energy security and jobs he got elected.
Without that so why is he gonna do it now.
I think he's really -- mentioned today his climate change agenda is going to be very high.
There's been talk about a carbon tax but I think we're really gonna sees the regulatory agencies departments and -- EPA really ratcheting.
Down on those regulations to force the price.
Of regular fuels higher.
Yet meet these posts will be filled by people who are more friendly -- we can't hold out hope that there's a possibility of we heard any names are well yeah.
I would expect it to be worse and it's also regulations in the pipeline right now these greenhouse gas rules in the pipeline.
There's a proposed rule that if it goes through and I don't -- -- white when he would stop new construction.
Of of new coal fired power plants -- and then is a new one that didn't talking about for existing power plants.
And then also refineries.
-- is going to be using the EPA department of interior have to -- rule.
To regulate fracking.
You which is good the issue which opportunity for our economy so I'm really concerned about this they end fracking -- just real quick and big positive or negative the right thing to do everything they -- to slow that down department Terry has imposed rule.
The will close up to one point five billion dollars extra.
So that's a lot of regulations.
No really good news on our economy.
But yet there was a huge opportunity you we could be the Saudi Arabia of energy by 20/20.
Or if we're allowed to get to with I don't think he's got a lot of still it.
You can read by the collapse number -- take your punishment at the correct -- -- Our rights for.
